Income tax; allow credit to employer providing individual coverage health reimbursement arrangement (ICHRA) to employees.

SB 3123 would create a state income tax credit for Mississippi employers with fewer than 50 employees who provide Individual Coverage Health Reimbursement Arrangements (ICHRA) instead of traditional health insurance. Employers could claim up to $400 per covered employee in their first year and $200 in the second year, based on their prior health plan contributions. The bill requires employers to report ICHRA details every three years and caps total annual credits at $10 million. The bill was referred to committee but died there on February 26, 2025, and is not currently law.